Data as of Nov 12, 2026.
HYNX vs SKHQ: Leverage, Returns & Decay
Return, fees and overlap, side by side.
Pair scorecard
SKHQ costs 0.26 points a year less.
Points (pts) are percentage points.
| Measure | HYNX | SKHQ |
|---|---|---|
| Return | ||
| What its daily multiple gave | −40.5% (3 months) | 1.3% (1 month) |
| Against its benchmark | ||
| What it tracks | SK HYNIX | Sk Hynix |
| Against its daily multiple | 2.1 points short (3 months) | 0.4 points short (1 month) |
| Cost and size | ||
| Expense ratio | 1.25% | 0.99% |
| Net assets, as of Nov 11, 2026 | $26m | $64,650 |
| Holdings | ||
| Holdings in common | not published | |
HYNX returned −42.6% while 2 times SKHY's move would have been −33.8%. Data from Aug 13, 2026 to Nov 12, 2026.
Data from Aug 13, 2026 to Nov 12, 2026.SKHQ returned +0.9% while −2 times SKHY's move would have been +24.6%. Data from Oct 13, 2026 to Nov 12, 2026.
SKHQ returned +0.9% while −2 times SKHY's move would have been +24.6%. Data from Oct 13, 2026 to Nov 12, 2026.Side by side
As of Nov 12, 2026. Source: ETFIQ.
Window by window
| Total return | Multiple would give | Difference | ||||
|---|---|---|---|---|---|---|
| Window | HYNX | SKHQ | HYNX | SKHQ | HYNX | SKHQ |
| 1 month | −30.5% | +0.9% | −24.6% | +24.6% | −5.9 pts | −23.7 pts |
| 3 months | −42.6% | – | −33.8% | – | −8.8 pts | – |
| Since launchNot the same days: HYNX Jul 2026 · SKHQ Sep 2026 | −63.9% | −2.8% | −58.0% | +33.0% | −5.9 pts | −35.8 pts |
– means no data for this window. Open this comparison in the app →
Over the three months to Nov 12, 2026, HYNX lost 42.6%, against −40.5% for twice SKHY's daily moves.
Read the multiple against the whole window instead and 2 times SKHY's −16.9% implies −33.8%, which makes HYNX look 8.8 points short. That is not the fund's objective, which is daily. Of that 8.8, daily compounding is −6.7 points, which any 2 times fund would show over the same path, and the fund itself is −2.1 points against 2 times each day's move, compounded. HYNX aims to return +2 times SKHY's move each day, then resets. Over one day it does that. Over longer periods the daily results compound, so the total is not +2 times the period's move: it is lower after a fall and recovery, and can be higher in a steady run. SKHY moved at 75% annualized over that window. The more it moves, the further the two numbers separate.
Over the month to Nov 12, 2026, SKHQ returned 0.9%, against 1.3% for twice the inverse of SKHY's daily moves. Of that 23.7, daily compounding is −23.3 points, which any −2 times fund would show over the same path, and the fund itself is −0.4 points against −2 times each day's move, compounded.
Read the multiple against the whole window instead and −2 times SKHY's −12.3% implies +24.6%, which makes SKHQ look 23.7 points short. SKHQ aims to return -2 times SKHY's move each day, then resets. Over longer periods the daily results compound, so the total is not -2 times the period's move: it is lower after a fall and recovery, and can be higher in a steady run. SKHY moved at 97% annualized over that window.
Questions people ask
- Which came closer to its daily multiple, HYNX or SKHQ?
- Over the window to Nov 12, 2026, HYNX finished 8.8 points from what its multiple implies and SKHQ finished 23.7 points from its own, so HYNX came closer. Neither number predicts the next window: it depends on how much the underlying moves about.
- Are HYNX and SKHQ levered on the same thing?
- Yes. Both are levered on SK hynix, HYNX at +2 times and SKHQ at -2 times the daily move.
- Which one decays faster, HYNX or SKHQ?
- Decay follows how much the underlying moves about. Over this window HYNX’s moved at 75% annualized and SKHQ’s at 97%, so SKHQ has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold HYNX or SKHQ for a year?
- Both reset every day, so the multiple in the name applies to a single day, and daily results compound. Over a year the total is not the multiple times the year’s move; after a fall and recovery it is lower.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Every number is an ETFIQ calculation with distributions reinvested.
Cite this pageCitation, APA and Markdown
ETFIQ, HYNX against SKHQ, data as of Nov 12, 2026. https://etfiq.com/compare/leverage/hynx-vs-skhq
ETFIQ. (Nov 12, 2026). HYNX against SKHQ. Retrieved from https://etfiq.com/compare/leverage/hynx-vs-skhq
[HYNX against SKHQ (ETFIQ, Nov 12, 2026)](https://etfiq.com/compare/leverage/hynx-vs-skhq)
Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.
Net assets on Nov 11, 2026: $26m for T-REX 2X Long SKHY Daily Target ETF and $64,650 for Leverage Shares 2X Short Sk Hynix Daily ETF.
HYNX and SKHQ
Total return, distributions reinvested, 1 month.
HYNX −30.5%, SKHQ +0.9%: SKHQ +31.4 pts ahead, 1 month, Oct 13, 2026 to Nov 12, 2026.